LOT 20

18 - 19 North Parade, Skegness, Lincolnshire, PE25 2UB

PART LET FREEHOLD HOTEL EXTENDING TO CIRCA 9,989 SQ FT (928 SQ M) WITH POTENTIAL FOR DEVELOPMENT (SUBJECT TO CONSENT)

Guide price: £430,000 plus*

Auction Date

Wednesday, 27th May 2020 12:00pm

A pair of substantial semi detached properties currently arranged as a hotel, extending to ground and three upper floors and occupying a prominent seafront position. The hotel has a bar, dining room, commercial kitchen and 27 letting rooms all with with en-suite bathrooms. Off street parking for 4 cars and a level walk to the town centre leisure amenities. The beach is opposite. Skegness is a thriving east coast resort. North Parade is close to Skegness town centre with its large range of tourist and leisure facilities as well as the beach. The property is situated in an area of hotels, apartments and guest houses overlooking the sea front and lies approximately 0.8 miles from Skegness railway station.

Accommodation

Ground Floor: Bar, dining room, commercial kitchen, lounge, games room, double bedroom with en-suite and a rear flat having a bedroom, living room, bathroom and kitchen (Approx 3,264 Sq Ft/303.2 Sq M)

First Floor: Flat with living room, kitchen, bathroom and two bedrooms. Eight double bedrooms with ensuite facilities and two single bedrooms with en-suite facilities, laundry, storeroom. (Approx 2,753 Sq Ft/255.8 Sq M)

Second Floor: Nine double rooms with en-suite facilities, two single bedrooms with en-suite facilities and a part-converted double room with an area for an en-suite bathroom. In addition, there is the lower level of an apartment providing living room/dining room and kitchen area. (Approx 2,753 Sq Ft/255.8 Sq M)

Third Floor: Upper level of apartment: kitchen, bedroom with shower room. Five double letting rooms with en-suite facilities and a further single room with en-suite facilities. (Approx 1,516 Sq Ft/140.8 Sq M)

In addition, there is a rear building which has garaging for two cars at ground floor with first/second floor apartment (Approx 371 Sq Ft/34.4 Sq M) having living room, kitchen and bedroom with en-suite shower room.

Lease Details

The flat to the rear (known as 1a North Parade) has been let by way of an initial 12 month AST (now holding over) at a rent of £405 PCM.

The remainder of the property has been agreed to be let by way of a new 10 year lease at a rent of £60,000 PA. A deposit has been paid by the proposed tenant. Completion of the proposed lease has been placed on hold due to the Covid-19 epidemic and may be able to be finalised in the future.

Auction Surveyor: Andrew Brown
Contact: 020 8509 4470

Planning

The property may be suitable for a number of alternative uses (subject to obtaining any necessary consents). Prospective purchasers should make their own enquiries to East Lindsey District Council on 01507 601111

We are verbally informed by our client that number 18 North Parade was previously registered as 7 flats.

EPC Rating

D

Note

Strettons have only inspected the public areas of the property and we have relied upon a previous valuation report for the floor areas and accommodation details.

Status

Please refer to auctioneer for more information

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates. 

VIEWINGS

    We are unable to conduct accompanied internal viewings of the building.